Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
its hard for me to imagine multiple funds taking 10% positions in the same paper we are buying, only to be told 3-4 months later than their paper is now worthless. JMHO. if it were just dreamer retail traderz buying this paper, I would be more skeptical. however, given all the info out there, I am confident about my shares in this PPS range. ALL IMO.
me too, the day is young. looking for some institutional buying later today or this week IMO
absolutely...the last 2 prs are important steps for this company. I see the trend continuing with more good news to come. IMO
good to see some more positive news. fwiw the last time we had news (GE SeaCO), the pps was up around here until the afternoon when it shot over 30 cents.....
anyway, this news just makes me more confident that SCRA will overcome its problems and trade at a much higher PPS. dollars in 08' IMO GLTA. should be more eyes than ever on this stock now.
Sea Containers Reaches Vital Agreement With the Trustees of the Main UK Pension Schemes.
PR Newswire - February 06, 2008 11:42 AM ET
Related Quotes
Symbol Last Chg
SCRA Trade 0.1375 +0.0425
SCRB Trade 0.15 0.00
Real time quote.
Sea Containers welcomes the announcement that it has reached agreement in principle with the Trustees of the two main Sea Containers Pension Schemes to agree the amount of their claims against the Sea Containers estate. This is a critical and positive milestone in its efforts to emerge from Chapter 11.
Since the Chapter 11 negotiations first began in October 2006, the board of directors and the officers of Sea Containers have been focused on achieving a plan of reorganization that provides full and fair settlement for all creditors. The major creditors involved are the 1983 and the 1990 pension funds which have almost 1500 members between them and the holders - thought to be a number of US hedge funds - of the four outstanding bond issues.
The agreement with the Trustees for the pension funds, which are estimated to be in deficit by approximately US$200 million under the s75 'buy out' basis prescribed by UK law, will allow the Company and The trustees to avoid costly and protracted litigation in multiple and potentially competing jurisdictions. The agreement also creates an additional reserve of US$69 million for certain potential pension scheme liabilities in respect of age-related equalization changes.
In connection with this important agreement, Sea Containers has withdrawn its appeal against the Financial Support Direction (FSD). The FSD, which sought to oblige Sea Containers Limited (the ultimate parent company) to put in place additional financial support for the pension funds, was handed down by the Determinations Panel of the UK Pensions Regulator on 3 July 2007. Sea Containers considers that the settlement will adequately address any FSD and that the current legal proceedings would be of no further benefit. Sea Containers is therefore pleased to have reached a timely and consensual settlement with the Trustees.
Sea Containers, alongside the Trustees, will be seeking approval from the Regulator for the proposed settlement. Both sides are confident an approval will be granted in the near future.
The proposed settlement is also subject to the Delaware Bankruptcy Court approval and may be objected to by other creditors of the estate.
SOURCE Sea Containers Ltd.
this one is just getting started IMO. I recommend buying on any weakness. GOOD LUCK 2 YA
SCRA NEWS !!!!!!!!!!!HUGE
SCRA .13 x .14 OMG $$$$
SCRA .13 EXPLODING!!!!!!!
SCRA - looks like mms moving this one up IMO...volume coming in now
SCRA .115 x .12 on the move LOL $$$$$$$$$$$$
SCRA .10 x .11 could move 2day radar it IMO
the pump and dump iz on for 2008 $$$$$$$$$$$$$ all the funds are short everything and looking to dump bull market gains. all IMO. puts are the play for 08 IMO
ONXX on high alert for AH explosion on earnings IMO. putting all my guys in this one, huge move up coming. radar it
well, hopefully we'll be seeing some 911 trades soon...we know what happened to this stock the last time there was news....
I mean a signal between market makers. for example, maybe one MM will trade 500 shares to another, and that will mean something like one MM is low on shares or something. I do not know for sure that this happens, but many on boards have speculated about MM signals.
just MM manipulation, games, possibly signal. wouldn't pay much attention to the 100 share trades. IMO its all about getting people to sell at the lows, that is one of the most important parts of the MM job IMO
lots of trades at .115 in btwn bid and ask...looks like MM games trying to get people to sell IMO. im expecting a solid week out of SCRA
SCRA chart
SCRA .11 x .12 ON DA MOVE $$$$
SCRA .105 X .11 wants 2 run IMO
.10 x .11 looking good today...chart seems to indicate we are headed higher IMO. today is good time to buy IMO. GLTA
SCRA .10 x .105 radar it
SCRA - bounced off 8-9 cents, looking for a move up this week. retest of 17 cents soon IMO. keep an eye one in february. GLTA
SCRA chart
racket scientist, I think that the insider buying is an indicator that canceling the common shares is an unlikely scenario. IMO dillution is far more likely in this case. considering that marathon, sopris capitol, david tepper, as well as a hanfful of other funds and insiders hold SCRA common shares, I don't see these common shares just going to zero overnight. and, although an insider like david tepper could end up getting issued new shares or stock options in the event of the common getting canceled, funds that would hypothetically hold the "worthless" common shares would be at a loss just like us retail who hold the common IMO. if that happened, their 10% stake in sea containers would overnight become a 0% stake....I don't think this is going to happen. in fact, I see this - the canceling of the common shares - as a highly unlikely scenario.
I think we can speculate that Sopris and marathon are far more in the know than retail. whereas some of us own .03% to maybe even .08% of SCRA, these funds own 10%. they have voting power. they have been adding to their large positions. I do not believe that these funds are buying and holding 10% positions in SCRA only to lose their entire investment due to restructuring issues with the common class. if they are gong to lose, its going to be because the business cannot survive, not the common shares. JMHO
ATTN: weak hands get out now this is your chance IMO all weak hands must sell at the botoom before the move to dollar land IMO.
SCRA .10 x .11 new next week?
chart looking bullish. next week MMs take this WAY UP IMO
SCRA .095 x .11 EXPLOSION IMMINENT IMO
I'm sure MMS managed to shake out some shares with recent move from 12 cents to 8 cents...now is time to go back up. I think we retest the recent highs soon. with good news though all bets off, this could rally 100s of % like nothing...we will see. locked and loaded here. this is the loadinz zone IMO and these prices will not be around indefinitely. all IMO
SCRA .095 x .10 on the move here
I think this is the turn here. back over 10 cents next week IMO. I think funds are going to go on one last buying spree before the big move up. all IMO
was it a sell or a buy ? I know it was .092 x .095
remember that big funds have been adding recently and now own large chunks of the common shares. marathon has 10%, sopris capitol has a little under that I believe. so, people are buying these shares down here, just not scared retail who saw SCRA move from 12 to 17 in a day, and now barely able to hold 9 cents level. if funds were not adding, but instead selling or just holding what they already had, it would be more suspect IMO...trust me, SCRA common are not going to zero and are not going to be canceled.
these big money plays are not easy and not meant for scared money, however, IMO the writing is on the wall here and patient holders will do very well with this stock. ALL IMO good luck 2 u. to me the question if not if, but when. dollars soon IMO
ONXX on high alert. explosion coming after earning february 11th just like after q3 numbers IMO. in some feb 50z at 1
yes...just another suckers rally, no way stocks will be able to hold their recent inflated prices and high PEs in this environment. big funds and hedges know stocks are finished, media trying to lure in new money with rate cut hype and keep people in the market. the fall of tech is a sign of whats to come for overall market IMO. puts are the play for 2008 thing are going to get wild IMO
sounds like a good strategy. this rally is a great shorting opp IMO, market due for much more pain soon IMO
rawnoc, what do u think of the recent surge in HB stocks. I bought some DHI, TOL and XHB puts today. are u shorting HBs again ? this scam rally is overdone, expecting retrace soon IMO
true, the GOOG short is looking a bit suspect after the MA surge this morning on earnings. trying to some cheap XHB puts 2day